Nigerian Exchange Limited has released the results of its full-year review of the market indices.
The review, which encompasses various indices, including the NGX 30, NGX Lotus Islamic, NGX Pension, and others, aims to ensure that the indices remain representative of the market and provide investors with accurate benchmarks.
The market review has led to the inclusion and exclusion of several companies from various indices, effective January 2, 2025.
Under the NGX 30 Index, Conoil Plc, International Breweries Plc, Oando Plc, and Transcorp Power Plc have been added, while Guinness Nigeria Plc, Sterling Holding Company Plc, Total Nigeria Plc, and Flour Mills Nigeria Plc have been removed.
Other notable changes include the addition of Golden Guinea Breweries Plc to the NGX Consumer Goods Index, with Flour Mills Nigeria Plc departing. Wema Bank Plc has joined the NGX Banking Index, while Sterling Holding Company Plc has exited.
The NGX Oil & Gas Index has seen the entry of Aradel Holdings Plc, MRS Plc, and Oando Plc, with Japaul Oil and Services leaving the group.
The NGX Industrial Index remains unchanged, with no new entries or exits. The indices are rebalanced semi-annually, using the market capitalization methodology, to ensure that they remain representative of the market.
The NGX during the review said it has launched the NGX Equity-Based Commodity Index, a broad market commodity index that tracks the collective movements of companies with primary operations in energy, agriculture, mining, metals, and natural resources.
This index provides investors with potential exposure to the essential raw materials and natural resources that drive global economic activity.
The NGX said that the index comprises of Geregu Power Plc, Multiverse Mining and Exploration Plc, Okomu Oil Palm Plc, Presco Plc, Seplat Energy Plc, Transcorp Power Plc, and Aradel Holdings Plc. The index’s starting value is set at 1,000.
Commenting on the development, Chief Executive Officer of NGX, Jude Chiemeka
said, “The Exchange continues to innovate and develop products that deepen the market and boost liquidity, connecting Nigeria, Africa, and the world. Our indices are designed to provide investors with accurate benchmarks and exposure to various sectors of the market.”
